Cowen set a $33.00 price target on CTS (NYSE:CTS) in a research note published on Friday, TipRanks reports. The brokerage currently has a buy rating on the electronics maker’s stock.
Several other brokerages have also recently issued reports on CTS. ValuEngine raised CTS from a sell rating to a hold rating in a research report on Monday, July 22nd. Stephens began coverage on CTS in a research report on Thursday, October 10th. They set an equal weight rating and a $33.00 target price on the stock. Finally, Zacks Investment Research raised CTS from a sell rating to a hold rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $33.00.
Shares of NYSE:CTS opened at $26.97 on Friday. CTS has a 52-week low of $24.07 and a 52-week high of $34.29. The stock has a market cap of $913.75 million, a P/E ratio of 17.63 and a beta of 1.31. The business’s 50 day moving average is $31.82 and its 200 day moving average is $29.52. The company has a quick ratio of 2.15, a current ratio of 2.44 and a debt-to-equity ratio of 0.35.
CTS (NYSE:CTS) last announced its quarterly earnings data on Thursday, October 24th. The electronics maker reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.10). CTS had a return on equity of 12.83% and a net margin of 9.21%. The firm had revenue of $115.70 million during the quarter, compared to the consensus estimate of $117.72 million. During the same period last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that CTS will post 1.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.16 annualized dividend and a yield of 0.59%. CTS’s dividend payout ratio (DPR) is presently 10.46%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in CTS by 20.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,286,150 shares of the electronics maker’s stock valued at $63,052,000 after acquiring an additional 385,708 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in CTS by 257.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 34,660 shares of the electronics maker’s stock valued at $956,000 after acquiring an additional 24,960 shares in the last quarter. Bank of America Corp DE boosted its position in CTS by 56.1% during the 2nd quarter. Bank of America Corp DE now owns 68,659 shares of the electronics maker’s stock valued at $1,893,000 after acquiring an additional 24,683 shares in the last quarter. JPMorgan Chase & Co. boosted its position in CTS by 160.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 53,390 shares of the electronics maker’s stock valued at $1,474,000 after acquiring an additional 32,861 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in CTS by 11.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 293,399 shares of the electronics maker’s stock valued at $8,092,000 after acquiring an additional 31,176 shares in the last quarter. 94.16% of the stock is currently owned by institutional investors and hedge funds.
CTS Company Profile
CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.
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